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Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the future direction of the market.
European steel buyers returned cautiously to the market, as the traditional summer break extended into early September. Inventory levels remain relatively high, for current demand. Sensing that the bottom of the current cycle had been reached, however, some purchasers placed orders for small quantities, to reduce their average stock value.
European steel prices continued to decline, last month. In late August and early September, the mills started to announce increases, in line with rising costs, across the carbon steel product range. These efforts were against the background of spiralling international energy values.
Major steel manufacturers led the way. Their efforts, initially, were undermined by certain producers seeking to fill their order books. Large, proposed increases were accompanied by a willingness to negotiate, or to extend the validity of previous prices, to their regular customers who had just returned from holiday. This eroded buyers’ confidence in the strength of such moves.
As order books weaken, steel mills are aligning production to apparent demand. Capacity cuts have been implemented, although perhaps not soon enough. Several blast furnaces have been taken offline, for extended periods. Rerollers are restricting production to night-time and weekend working, to control electricity consumption. As a consequence, delivery lead times are once again extending, rather than contracting.
Industry, as a whole, is looking to the authorities to address problems with energy supply and costs. The EU has announced measures to cap energy prices, partly funded by additional taxes on excess profits of energy providers. This should protect private consumers, to some extent. Policies show little detail for energy-intensive manufacturers. Some individual states have mandated a reduction in electricity usage.
In the UK, political decisions are delayed during the period of mourning for Her Late Majesty Queen Elizabeth II. A cap on domestic electricity costs has been announced. Further proposals, for industrial users, are reportedly in preparation.
The possibility of steelmakers implementing energy-related surcharges is again a topic of interest. Most market observers consider such a move to be impracticable for commodity grade steel. It is also extremely doubtful that producers who propose such a move would be willing to open their energy usage and supply contracts to the scrutiny such a clause would require.
Elevated energy costs are not isolated to primary steel producers. Oil, gas and electricity are used throughout the supply chain, resulting in incremental charges at each stage. Finally, it is the individual consumer who pays, or chooses not to. Escalating household energy costs and the subsequent drain on disposable income lead to reduced downstream steel demand. High inflation rates also restrict private expenditure.
Source: MEPS International Ltd
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Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Planning Commission, India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
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